This disclosure relates to computer-based accounting systems, and more particularly, to systems and methods for automated generation of bank deposits in conjunction with cash-in transaction information.
Traditionally, deposits of cash-in transactions in a bank begin with a receipt of monies (e.g., cash, check, and the like). The monies are then tallied and taken, for example, to a bank for deposit. A deposit ticket for depositing the received monies in the bank is prepared, and the monies are deposited in the bank with the deposit ticket.
Often, checkout registers at stores, for example, are linked electronically to a computerized accounting system. Each sale can be posted to the accounts receivable sub-ledger of the accounting system, automatically.
Ultimately, to balance the accounting books, the deposit tickets have to be matched with monies received, which means that each deposit ticket should be associated with transaction lines within the accounts receivable sub-ledger. However, a single bank deposit often reflects monies received from a plurality of cash-in transactions (a plurality of transaction lines), making it difficult to readily identify specific cash-in transactions that are part of any given deposit. As used herein, the term “cash-in transaction” refers to any transaction through which payment is received, including, for example, cash, check, money order, wire transaction, prepaid cards, and the like.
In some existing enterprise accounting systems, a user can create a bank deposit and pick which cash-in transactions belong to the created bank deposit. In other systems, the user can assign individual cash-in transactions to an existing bank deposit. Generally, existing enterprise accounting systems provide the ability to total the bank deposit and to print it, which is a vast improvement over manually listing each cash and check amount. Nevertheless, the process of assigning cash-in transactions to bank deposits is time-consuming and can be difficult, depending on the number of cash-in transactions and deposits.
There is an ongoing need for accounting systems that simplify the process of assigning cash-in transactions to bank deposits within the enterprise system.